WAVE Life Sciences’ (WVE) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of WAVE Life Sciences (NASDAQ:WVE) in a research report released on Wednesday morning,Weiss Ratings reports.

Other analysts have also recently issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. Raymond James Financial assumed coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 target price for the company. Oppenheimer assumed coverage on shares of WAVE Life Sciences in a research report on Monday, July 28th. They set an “outperform” rating and a $24.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on shares of WAVE Life Sciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

WAVE Life Sciences Price Performance

Shares of NASDAQ WVE opened at $7.60 on Wednesday. The firm has a fifty day moving average price of $8.13 and a 200-day moving average price of $7.37. The stock has a market cap of $1.21 billion, a PE ratio of -8.44 and a beta of -1.37. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $11.52 million. On average, research analysts expect that WAVE Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 285,217 shares in the company, valued at $2,852,170. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Bolno sold 217,351 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $10.10, for a total transaction of $2,195,245.10. Following the transaction, the chief executive officer owned 121,000 shares of the company’s stock, valued at $1,222,100. This trade represents a 64.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,893 shares of company stock worth $2,423,068 over the last three months. 23.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Several institutional investors have recently bought and sold shares of the business. Virtus Investment Advisers LLC lifted its position in WAVE Life Sciences by 10.2% during the second quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock valued at $85,000 after purchasing an additional 1,210 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of WAVE Life Sciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company’s stock valued at $151,000 after acquiring an additional 1,564 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after acquiring an additional 1,802 shares during the period. Velan Capital Investment Management LP raised its stake in shares of WAVE Life Sciences by 15.4% in the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock valued at $98,000 after acquiring an additional 2,000 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of WAVE Life Sciences by 8.2% in the second quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company’s stock valued at $188,000 after acquiring an additional 2,206 shares during the period. Institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.